'Unfair Support to Affiliates' Park Sam-gu Assigned to Economic Crime Specialized Court

Former Kumho Asiana Group Chairman Park Sam-gu, who is suspected of unfair support to affiliates, is attending the warrant hearing held at the Seoul Central District Court in Seocho-gu, Seoul on the 12th. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Seongpil Cho] The first trial court to hear the case of former Kumho Asiana Group Chairman Park Sam-gu, who was indicted while in custody on suspicion of 'unfair support to affiliates,' has been decided.

According to the legal community on the 27th, the Seoul Central District Court assigned the case of former Chairman Park, who was indicted while in custody on charges of violating the Monopoly Regulation and Fair Trade Act and embezzlement and breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes, to the 24th Criminal Division (Chief Judge Jo Yong-rae). The 24th Criminal Division of the Seoul Central District Court is a specialized court for economic cases, and Judge Yang Seok-yong was appointed as the presiding judge for former Chairman Park's case.

Earlier, the Fair Trade Investigation Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Kim Min-hyung) indicted former Chairman Park while in custody the day before. According to the prosecution, former Chairman Park is accused of withdrawing 330 billion won from four affiliates, including Kumho Terminal, at the end of 2015 and using it to pay for the acquisition of Kumho Industrial shares held by creditors such as the Korea Development Bank. The prosecution believes that former Chairman Park committed various illegal acts, including embezzling affiliate funds, to rebuild the group and regain management rights.

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